H World Group Stock Price, News & Analysis

Huazhu Group Limited (NASDAQ: HTHT) reported third-quarter 2020 financial results, showing a 3.4% year-over-year increase in net revenues to RMB3.2 billion (US$466 million), surpassing earlier guidance. The company experienced a net loss of RMB212 million, compared to a profit of RMB431 million in Q3 2019. Adjusted EBITDA was positive at RMB184 million, indicating recovery despite challenges from COVID-19. As of September 30, 2020, Huazhu operated 6,507 hotels and had 2,313 hotels in the pipeline. The fourth-quarter guidance suggests revenues may rise by 0% to 3% year-over-year.

Huazhu Group Limited (NASDAQ: HTHT) will release its unaudited financial results for Q3 2020 on December 4, 2020, following Hong Kong trading hours. A conference call will be held on December 6, 2020, at 8 p.m. EST, where management will discuss earnings. The call requires preregistration for participants. As of September 30, 2020, Huazhu operated 6,507 hotels with 634,087 rooms across 16 countries. The company employs various business models, including leased, owned, and franchise operations.

Huazhu Group Limited (NASDAQ: HTHT) announced preliminary Q3 2020 results, highlighting a gradual recovery in hotel operations despite COVID-19 impacts. The occupancy rate improved, driven mainly by leisure travel, with 91% of Steigenberger Hotels AG's properties operational as of October 31. However, the recovery paused in late September due to a new COVID-19 wave in Europe. Huazhu is adjusting its hotel portfolio by closing 550-600 hotels, increasing from 350-450. Expected net revenues for Q3 2020 may see a 0-2% rise year-over-year, with a decline of 10-12% if excluding Steigenberger.

Huazhu Group Limited (Nasdaq: HTHT) has completed its put right offer for its 0.375% Convertible Senior Notes due 2022. The offer expired on October 29, 2020, with a total of US$6,000 in principal amount validly surrendered. The company accepted all surrendered Notes for repurchase and has processed payments through its paying agent. As of June 30, 2020, Huazhu operates 6,187 hotels worldwide, significantly expanding its portfolio following the acquisition of Deutsche Hospitality.

Huazhu Group Limited (Nasdaq: HTHT) announced a Put Right for holders of its 0.375% Convertible Senior Notes due 2022. Starting October 1, 2020, holders can request the company to repurchase their Notes at 100% of the principal amount, plus any accrued interest, until October 29, 2020. As of September 28, 2020, US$474,992,000 in aggregate principal of Notes is outstanding. The company will pay accrued interest on November 2, 2020, irrespective of Put Right exercise. A Tender Offer Statement will be filed with the SEC, providing detailed terms and procedures.

Huazhu Group Limited (Nasdaq: HTHT) announced the opportunity for holders of its 0.375% Convertible Senior Notes due 2022 to exercise their Put Right to require the company to purchase their Notes for cash on November 2, 2020. This right is available from October 1, 2020, until October 29, 2020, with a total of US$474,992,000 in aggregate principal amount outstanding as of September 28, 2020. The repurchase price will include any accrued interest, and interested holders can find details in the Put Right Notice.

Huazhu Group Limited (Nasdaq: HTHT) has responded to a short seller report from Bonitas Research, reiterating that the allegations are unfounded and filled with inaccuracies. The company, which operates 6,187 hotels worldwide, emphasized its commitment to corporate governance and compliance with regulatory standards. Huazhu will respond to future allegations only if legally necessary, without acknowledging any merit in those claims. As of June 30, 2020, the company continues to expand its portfolio, including acquisitions like Deutsche Hospitality completed in January 2020.

Huazhu Group Limited (NASDAQ: HTHT) has responded to a recent short seller report by Bonitas Research, released on September 29, 2020, stating that the allegations are unfounded and filled with inaccuracies. The company emphasizes its commitment to transparent corporate governance and adherence to applicable regulations. As of June 30, 2020, Huazhu operated 6,187 hotels across 16 countries, with a diverse portfolio of brands. The firm will limit future responses to allegations unless legally required, emphasizing the importance of not interpreting this as an admission of truth regarding any claims.

Huazhu Group Limited (Nasdaq: HTHT) has formed a special committee to investigate allegations made in a recent short seller report by Bonitas Research LLC. Despite the company's belief that the report is unfounded and contains significant errors, the board aims to ensure transparency for shareholders. The special committee, comprising key executives, will review the claims and has engaged independent legal counsel. Huazhu also plans to submit a preliminary rebuttal to the Hong Kong Stock Exchange addressing the report's inaccuracies.